Coronavirus lockdown: Textile industry stares at Rs 12,000 crore loss

While the Covid-19 pandemic has completely halted production and new orders, exporters say that payments have also been delayed for the shipments sent before the lockdown.

The busy roads of Tirupur, one of the largest textile hubs in the country, look deserted. Gone is the hum of the 10,000 factories — mainly small and medium enterprises — where over 600,000 people worked.
 

The city used to do around Rs 25,000 crore worth of exports and around the same amount in the domestic market. Now the town expects a Rs 10,000-12,000 crore loss in just three months.
 

Tirupur’s fate has been replicated across other major textile hubs ever since the lockdown was announced. The textile industry, the second largest employer after agriculture, may lose 25 per cent